CIG: U.S-Dutch start-up, Lemnis Lighting raises $37.5 million in fresh funding.

March 10, 2010 - PRLog -- CIG sources have learned that Dutch owned, U.S. headquartered lighting start-up Lemnis Lighting has recently finished raising $37.5 million in a fourth round of funding from undisclosed African investors, as the firm aims to tap in to the rapidly expanding market for energy efficient bulbs.

The latest equity funding, from a consortium of existing investors as well as some fresh investment from Africa, pushes the firm’s value to $170 million, and will allow the company to expand its LED applications portfolio, and also develop its distribution model for global markets.

The San Francisco based firm manufactures a $40 LED screw in Pharox light bulb which gives about the equivalent amount of light as a 40W or 60W incandescent bulb, while consuming only 6W, CIG was informed.

While LED’s or light emitting diodes are currently more expensive than incandescent lighting, they last far longer and can use as little as one tenth of the energy.


The drop in LED prices coupled with new energy efficiency regulations has seen a major increase in demand for LED bulbs over the past few years and recent research of which CIG is aware, from research firm iSuppi indicates that there may soon be shortages of the bulb if additional manufacturing capacity is not forthcoming.

The research firm said that demand for LED’s had risen from 57 billion units in 2008 to 63 billion in 2009, but warned that with demand currently growing at double digits and global production  capacity being just 75 billion units, a drastic supply crisis could soon emerge.

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